The Jericho diamond mine in Nunavut will soon see an investment of $4.6 million as per new owners Shear Diamonds Ltd. The mine was bought by them from Tahera Diamond Corp and Benachee Resources Inc. last summer.
The South African ban on new mining permits may last longer than the originally planned six months. The Department of Mineral Resources had put a moratorium on new prospecting rights applications to deal with the existing applications and sort out current disputes.
Diamcor Mining Inc. (TSXV: DMI) has announced that further to its release on December 14, 2010, the parties to the transaction have received confirmation the registration of the cession documents for Krone and Endora have been completed with the Department of Mineral and Petroleum Titles Registration Office of the South African Department of Mineral Resources.
The South African government has launched a state owned mining company. President Jacob Zuma launched the African Exploration Mining and Finance Corporation or AEMFRC with the hope that it would bring all state mining interests into its remit.
Peregrine Diamonds Ltd. (TSX:PGD) has reported a coarse diamond size distribution in a 74.4 kilogram sample collected by core drilling from the CH-20 kimberlite located on the 8,580 square kilometre Chidliak project, Baffin Island, Nunavut, Canada.
Peregrine Diamonds Ltd. (TSX:PGD) has reported microdiamond results showing a coarse diamond size distribution from drill core and reverse circulation drill cuttings acquired from the north and south lobes of the CH-7 kimberlite on the 8,580 square kilometre Chidliak project on Baffin Island, Nunavut, Canada.
Olivut Resources Ltd. (TSXV: OLV) has announced that it has signed a non-binding Letter of Intent dated February 15, 2011 with Latin American Minerals Inc. (TSXV: LAT) to explore the Itapoty Diamond Project located in central Paraguay, South America.
President Obama has submitted a new budget proposal to Congress that will charge royalties to mine some hard rock minerals. The budget proposes that new royalties on silver, gold and copper hard rock mining be levied. Then the states getting paid mineral revenues would need to pay back some of it to manage the costs of handling mineral releases.
Shear Diamonds Ltd. (TSX VENTURE:SRM) has announced the signing of a Mutual Co-Operation Agreement with the Nunavut Resources Corporation.
South Africa may be scaring its mining community with talks of the nationalization of mines but global diamond mining and trading giant De Beers is not bothered. The South African unit of the world’s largest diamond producing company is confident that a 10 billion Rand mine expansion project will be approved by the government.
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